On January 1, Year 1, Hanover Corporation issued bonds with a $59,000 face value, a stated rate of interest of 7%, and a 5-year term to maturity. The bonds were issued at 98. Hanover uses the straight-line method to amortize bond discounts and premiums. Interest is payable in cash on December 31 each year. The journal entry used to record the issuance of the bond and the receipt of cash would be: (Round your answer to the nearest whole dollar amount.)

Cash	59,000
Discount on Bonds Payable		236
Bonds Payable		58,764

Cash	58,764
Discount on Bonds Payable	236
Bonds Payable		59,000

Cash	57,820
Discount on Bonds Payable	1180
Bonds Payable		59,000

Cash	59,000
Bonds Payable		59,000